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This is how much tax Macao made from gaming in the first quarter of 2023

The government has now raked in a fifth of the total it hopes to raise from casino operations during this year.

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The government has now raked in a fifth of the total it hopes to raise from casino operations during this year.

ARTICLE BY

PUBLISHED

READING TIME

Less than 1 minute Minutes

UPDATED: 22 Dec 2023, 12:25 am

Gaming generated more than 10.1 billion patacas for Macao in the first quarter of this year, according to a local media report citing figures from the Financial Services Bureau.

The sum represents an almost 16 percent increase compared to the same period last year and is nearly a fifth of the 50.9 billion patacas the government hopes to collect in 2023.

The figures come in the wake of reports putting April’s gross gaming revenue (GGR) at 14.72 billion patacas – a jump of 450 percent year-on-year.  Though that sum is still well down on typical pre-pandemic totals in excess of 20 billion patacas a month, it is the highest recorded since the start of the Covid-19 pandemic.

[See more: A proposed legal amendment will tighten sources of credit for high rollers]

Analysts say Macao is capable of generating GGR of 168 billion patacas this year –  comfortably more than the government target of 130 billion. Accumulated GGR so far in 2023 already represents 38 percent of the official goal.

However, others have sounded cautionary notes, saying that Macao’s labour shortage is hindering its growth.

Macao’s sluggish approval system for foreign workers, as well as intense competition for hospitality staff from other regional destinations, were cited in one report as speed bumps to full recovery.

 

UPDATED: 22 Dec 2023, 12:25 am

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